2 Things New Real Estate Investors Should Read Before Investing

Today I’m starting a new post category focused directly on NEW real estate investors. Over the next months, I will continue to add more content that is the result of questions I regularly receive from newbies. I will attempt to be more practical and tactical in my responses. I invite readers to submit questions via the contact page if you have any specific suggestions for topics. I also invite you to comment on my posts if you require any further clarification. But before I get into the detail of these posts, there are two things I want you to read.

Why Businesses Fail

There are three reasons businesses fail. They are:
1) Under funded
2) Under managed
3) Under planned

If a new business is under capitalized they can’t pay the bills and then lights go out. When the boss thinks he can put the business on autopilot from day one and doesn’t invest the time and energy, leaving it all to someone else or worse yet someone unqualified to protect his asset…the probability of failure is pretty high. The third reason usually stems from a lack of planning and ill defined goals.

In Alice in Wonderland one character asks, “Where does this road lead?” and when the responder asks, “Where are you going?” and Alice says, “I don’t know?” she learns that if you don’t know where you want to go then which road you take pretty much doesn’t matter.

The reasons new investors fail is that they miss three important points:

1. They don’t market in order to find enough motivated sellers
2. They don’t generate revenue or focus on revenue generating activities
3. They don’t recognize opportunities because they lack education

The FINAO Principle

The key to success in any entrepreneurial endeavor is the FINAO principle. Basically, Failure Is Not An Option. That’s right, when you give a half hearted effort, you get a half hearted result. You have to go after this like any other business with drive, motivation and passion. The number one reason newbies fail is because they quit. Real estate investing is incredibly rewarding on many levels but this is not the lottery, so if you think you’re going to make a million dollars without working for it…try something else because this isn’t for you. If you’re willing to invest in your business and yourself then go for it! You won’t be disappointed. Get the tools and knowledge, and do what it takes, and you can literally make your financial dreams come true!

If you have any specific questions for topics you would like covered in my New Investors post category, please submit them via my contact page. Also, as always, I welcome your comments.

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Creating Wealth USA, LLC

Transformation is a big part of what we work on with our clients because, let’s face it, no one was born a successful business person. Let alone a successful real estate investor. So transformation has to take place. We have to become something that we’re not currently.